VIDYA REDDY ,CHENNAI vs. ITO INL. TAXATION WARD 1(2) , CHENNAI

In the result, the assessee’s appeal is dismissed

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./Ita No.2016/Chny/2017 "नधा"रण वष" /Assessment Year: 2014-15

transferred to the beneficiary at a very nominal price mostly off-line through preferential allotment or off-line sale The beneficiary (an individual) holds the shares for one year, the statutory period after which LTCG is exempt u/s.10(38) of the Income Tax Act, 1961. In the meantime the operators rig the price of the stock and gradually raise

SOHANRAJ UTTAMCHAND ,CHENNAI vs. DCIT NON CORPORATE CIRCLE 2 , CHENNAI

In the result the appeal of the assessee is allowed